Recruitment    |     Emp eMail    |     عربي
         
  Contact us   Employees   Media Centre   Shareholders   Products   Our Aslak   Home  
Home  »  Media Centre  »  Announcements
Media Centre

     Announcements
      Brochure
      Photo Gallery
 
   Announcements  

united wire factories co. announces the interim financial results for the period ending on 30-06-2017 (six months)

22/07/2017
08:13:23


ELEMENT CURRENT QUARTER SIMILAR QUARTER FOR PREVIOUS YEAR % CHANGE CURRENT PREVIOUS QUARTER % CHANGE PREVIOUS
Net profit (loss) 493 38,610 -98.72 7,709 -93.6
Gross profit (loss) 12,191 56,481 -78.42 18,763 -35.03
Operational profit (loss) 2,780 42,510 -93.46 10,182 -72.7
All figures are in (Thousands) Saudi Arabia, Riyals
ELEMENT CURRENT PERIOD SIMILAR PERIOD FOR PREVIOUS YEAR % CHANGE
Net profit (loss) 8,202 55,904 -85.33
Gross profit (loss) 30,954 88,969 -65.21
Operational profit (loss) 12,962 63,936 -79.73
Earning or loss per share, Riyals 0.19 1.27 -
All figures are in (Thousands) Saudi Arabia, Riyals
ELEMENT EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year Net income ; comprehensive income ; gross income and operating income decreased during the second quarter compared to the same quarter of the last year due to the slow down of the construction sector ; lack of demand; competition and decreased prices which led to the decrease in sales and gross margins
Reasons of increase (decrease) for period compared with same period last year Net income ; comprehensive income ; gross income and operating income decreased during the current period of 2017 compared to the same period of the last year due to the slow down of the construction sector ; lack of demand; competition and decreased prices which led to the decrease in sales and gross margins
Reasons of increase (decrease) for quarter compared with previous quarter Net income ; comprehensive income ; gross income and operating income decreased during the current quarter compared to the previous quarter due to the slow down of the construction sector ; lack of demand; competition and decreased prices which led to the decrease in sales and gross margins. Besides Month of Ramadan and the holidays were in the second quarter.
Reclassifications in quarterly financial results Comparative figures for year 2016 are reclassified based on the financial statements prepared according to International Financial Reporting Standards in Saudi Arabia approved by the Saudi Organization of Certified Public Accountants
Other notes Company used the issued numbers of the the period ended 30/06/2016 for the comparative figures after amending them with the effect of implementing the IFRS. Net sales for the current quarter amounted to SR 135 Million compared to SR 197 Million for the same quarter of the last year which represents a decrease of 31% . Net sales for the current period amounted to SR 280 Million compared to SR 406 Million for the same period of the last year which represents a decrease of 31% due to the decrease on demand on construction materials .Comprehensive gross income amounted to SR 493 Thousands compared to SR 38.6 Million for the same quarter of the last year which represents a decrease of 99% and compared to an amount of about SR 7.7 Million for the last quarter which represents a decrease of 94%. comperhensive income for the current period amounted to SR 8.2 Million compared to SR 56 Million for the same period of the last year which represents a decrease of 85%. Owners' Equity amounted to SR 504 Million compared to SR 544 Million for the same period of the last year which represents a decrease of 7% ( There are no minority interests). Company implemented IFRS starting 1st of January 2017. Based on that some items of the financial statements are changed in the way of measuring , recognizing and disclosure for the current period and the comparative period to adapt the new accounting policies in Saudi Arabia approved by the Saudi Organization of Certified Public Accountants

Our Aslak

Products

Shareholders

Media Centre

Employees

Contact us